BBVA has decided to move forward with its offer to buy Sabadell
Last Tuesday, 24 June, the Council of Ministers approved the operation on the condition that the two institutions maintain separate legal autonomy and day-to-day management.
BBVA has announced its decision not to reverse its intention to buy Sabadell, after considering the condition imposed by the Spanish Government on the transaction last week, as reported to the National Securities and Exchange Commission.
Last Tuesday, 24 June, the Council of Ministers approved the operation on the condition that the two entities (BBVA and Sabadell) maintain separate legal autonomy and day-to-day management.
"After analysing this, the BBVA has decided not to reject the offer and will therefore proceed in accordance with the applicable regulations," the BBVA announced in a statement.
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